Premium Smartphone Market in Thailand : Worldwide smartphone shipments are falling, and Thailand is experiencing a similar situation. According to research, the country’s smartphone shipments decreased 17% YoY in Q2 2022 as a result of macroeconomic instability. Over the past two quarters, consumer demand in Thailand has decreased. However, there is some good news: shipments of high-end smartphones increased significantly in the nation.
Smartphone exports in Thailand have reportedly been declining, according to research by Counterpoint Research. The nation saw a 17% drop in overall smartphone shipments in Q2 2022. The country’s declining economic conditions are allegedly to blame for the decline. In June, the inflation rate increased to 7.66%, the highest level in 14 years.
Shipments of high-end smartphones (those costing more than $400) are, nevertheless, surging. Despite the overall market fall in Q2 2022, there was a 22% YoY rise.
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Senior Analyst Glen Cardoza stated that Thailand has a respectable proportion of customers who can retain a sound financial situation despite the current economic slowdown while speaking about the variables that influenced shipping in Q2 2022. Even in such a dire financial situation, this kind of buyer wants to buy at least a mid-tier smartphone. Consumers who might be considering purchasing a low-end smartphone are not doing so at the moment since food and related categories are now being affected the hardest by inflation. As a result, shipments of smartphones under $250 have decreased by 23% YoY.
Premium models from companies like Samsung, OPPO, Vivo, and Realme showed a spike in demand with each new introduction in the category. Thailand has a constant need for Apple products, although the company has mostly targeted the ultra-premium market. Top Chinese companies have moved from the lower and middle tiers to the higher price ranges, providing the post-COVID-19 economy’s consumers with much-needed choice. These businesses do better than Apple in the gaming industry as well.
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